Elon Musk, the founder of Tesla and SpaceX, promised to pay $100 million to the creators of the best technology for capturing and storing carbon dioxide. He announced the contest on his Twitter page.
“I will donate $100 million as a prize for the best carbon capture technology,” Musk wrote. He also promised to reveal details of the proposal next week. Carbon capture and storage refers to a process involving the separation of carbon dioxide (CO2) from industrial and energy sources and long-term isolation from the atmosphere. The purpose of this process is to combat global warming and pollution.
On January 12, Elon Musk was no longer the richest man on the planet. He had been the leader of the ranking since January 7. This happened because of the growth of Tesla shares.